One of the most obvious disadvantages to using manual timecard calculation and a punch clock is that no one is perfect. By using time clock software to perform these tasks, you virtually eliminate the possibility of errors in your payroll. This results in savings for you because it reduces accidental overpayment. This chart shows how our systems can boost your profits by simply reducing errors in your payroll.
|Number of Employees||100||500||1000||5000|
|Average Hours Per Week||40||40||40||40|
|Total Weekly Payroll||$24,000||$120,000||$240,000||$1,200,000|
|Human Error Factor*||.002||.002||.002||.002|
* Studies have shown the human error factor to be from 1% to 8%. In this example we have assumed .2% (.002).